The criminal case against Reliance Communications, its former director, Anil Ambani, and several other people follows a fraud complaint from the State Bank of India. -- PHOTO: REUTERS
MUMBAI: The Central Bureau of Investigation (CBI) has registered a criminal case against Reliance Communications Ltd, its former director Anil Ambani and several other people after a fraud complaint from the State Bank of India (SBI).
The SBI, the country’s biggest lender by assets, alleged it faced the wrongful loss of 29.3 billion rupees (US$335mil) after the accused engaged in a criminal conspiracy to misrepresent and sanction credit facilities in favour of the company, according to a statement last Saturday.
